SteelPeak Wealth LLC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 212.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,861 shares of the semiconductor manufacturer's stock after purchasing an additional 11,461 shares during the period. SteelPeak Wealth LLC's holdings in Micron Technology were worth $1,467,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of Micron Technology by 19.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after acquiring an additional 13,985 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Micron Technology by 74.7% during the 4th quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after acquiring an additional 1,734 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of Micron Technology by 18.0% during the 4th quarter. Citizens Financial Group Inc. RI now owns 6,830 shares of the semiconductor manufacturer's stock worth $575,000 after acquiring an additional 1,041 shares during the period. Finally, King Luther Capital Management Corp purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $842,000. Hedge funds and other institutional investors own 80.84% of the company's stock.
Insider Activity at Micron Technology
In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director directly owned 22,762 shares of the company's stock, valued at $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock valued at $31,154,717 in the last ninety days. Corporate insiders own 0.30% of the company's stock.
Micron Technology Stock Performance
MU stock opened at $124.53 on Friday. The company has a market cap of $139.36 billion, a P/E ratio of 22.44 and a beta of 1.35. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $135.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The stock's fifty day moving average price is $108.03 and its 200-day moving average price is $95.92.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the business posted $0.62 EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.
Micron Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.37%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on MU shares. Citigroup upped their target price on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Bank of America boosted their price target on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Barclays upped their price target on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Raymond James Financial upped their price target on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target of $146.44.
Check Out Our Latest Report on MU
Micron Technology Company Profile
(
Free Report)
Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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